TERMINATION OF THE OFFERING. If the Escrow Agent has not received, on or before the Termination Date, Subscription Payments in aggregate amount of at least $3,000,000, then the Escrow Agent shall proceed as directed by the Company. The Escrow Agent, if so directed, shall release all Subscription Payments on such funds and the corresponding Subscription Documents to each Subscriber, respectively, at the address given by such Subscriber in the Subscription Agreement. All disbursements by the Escrow Agent pursuant to this Section shall be made by the Escrow Agent’s usual escrow checks and shall be mailed by first class United States Postal Services mail, postage pre-paid, as soon as practicable but not later than the third business day after the Termination Date.
Appears in 2 contracts
Samples: Subscription Escrow Agreement, Subscription Escrow Agreement (MVP Monthly Income Realty Trust, Inc.)
TERMINATION OF THE OFFERING. If the Escrow Agent has not received, on or before the Termination Date, Subscription Payments in the aggregate amount of at least $3,000,000150,003, then the Escrow Agent shall proceed as directed by the Company. The Escrow Agent, if so directed, shall release all Subscription Payments Payments, without interest on such funds and the corresponding Subscription Documents funds, to each Subscriber, respectively, at the address given by such Subscriber in the Subscription Agreement. All disbursements by the Escrow Agent pursuant to this Section shall be made by the Escrow Agent’s 's usual escrow checks and shall be mailed by first class United States Postal Services mail, postage pre-paid, as soon as practicable but not later than the third business day after the Termination Date.
Appears in 1 contract
TERMINATION OF THE OFFERING. If the Escrow Agent has not received, received on or before the Termination Date, Subscription Payments in aggregate amount of at least $3,000,000, 100,000 then the Escrow Agent shall proceed as directed by the Company. The Escrow Agent, if so directed, shall release all Subscription Payments on such funds and the corresponding Subscription Documents to each Subscriber, respectively, at the address given by such Subscriber in the Subscription Agreement. All disbursements by the Escrow Agent pursuant to this Section section shall be made by the Escrow Agent’s 's usual escrow checks and shall be mailed by first class United States Postal Services mail, postage pre-paid, as soon as practicable but not later than the third business day after the Termination Date.
Appears in 1 contract
